Keep pulling the thread on Elon Musk.
XAI has an option to acquire developer tools company Cursor for $60 billion, with a $10 billion break clause payable to Cursor if the deal is not completed.
If the $60 billion acquisition of Cursor by XAI closes, it will be the largest private acquisition in venture capital history.
The acquisition of Cursor is structured as a post-IPO option to allow SpaceX to present a clear turnaround plan for its X.AI division to public market investors during its roadshow.
SpaceX is allegedly targeting a $2 trillion valuation for its IPO and plans to raise $75 billion.
Jason Moser predicts that a private M&A deal valued at $100 billion will occur within the next 12 months.
Rory predicts the $60 billion acquisition of Cursor by XAI will be the largest private M&A deal for the next decade.
Tim Cook is stepping down as CEO of Apple, with John Ternus set to take over the role.
Anthropic's valuation on secondary markets has reportedly surged to $1 trillion due to intense investor demand.
Anthropic has reportedly turned down funding offers at an $800 billion valuation.
Rory predicts that Anthropic will go public in Q4 or as soon as possible to capitalize on the current market enthusiasm for AI.
Anthropic has launched Claude Design, a new application that competes with Figma, Adobe, and Canva.
Rippling has crossed $1 billion in revenue and is growing at 78% year-over-year.